Hot dog! Will Nathan's Famous get a boost from John Morrell?

Will this be a hot deal? Or wind up a real dog. Too early to say for sure.

But Nathan's Famous (NASDAQ: NATH), the iconic New York wiener company, said it has inked a new licensing agreement with Lisle, Ill.-based John Morrell Food Group to manufacture, market and sell Nathan's-branded hot dogs. John Morrell's product portfolio also includes the Armour, Eckrich and Curly's brands, among others. Some are predicted the deal could be worth $10 million to Nathan's.

Nathan's Famous turned to John Morrell, a unit of global food behemoth Smithfield Foods, presumably to benefit from a more robust marketing and distribution effort than it was getting via its previous deal with Owensboro, Ky.-based Specialty Foods Group.

Morrell also is adding new settings for Nathan's International Hot Dog Eating Contest qualifying events. Among the new locations are St. Louis, IL.'s Busch Stadium, home of the St. Louis Cardinals, which will host a "Nathan's Day" on May 17. Also the Speed Street Festival in Charlotte, N.C., will host a similar event on May 24 in conjunction with NASCAR races during the Memorial Day weekend.

More Nathan's Famous sampling events are on the agenda. Nathan's Famous mobile sampling vehicles will stop at 350 locations nationwide during the spring, summer and fall of 2014. Consumers not only will be able to sample Nathan's hot dogs at the tour stops, but also play Coney Island-type carnival games that are part of the tour experience.

Nathan's Famous executives believe the added exposure can't hurt. Noted Wayne Norbitz, president and chief operating officer at Nathan's: "There are many great events planned for the summer to excite and engage our consumers. This along with many other efforts still to come with John Morrell Food Group, will lead to continued awareness and growth for Nathan's."

Yet to come are new social media outlets for Nathan's Famous, involving Facebook, Twitter and Instagram. Additionally, Nathan's plans to debut a new website by the end of April.

Nathan's began in 1916 as a single restaurant on in Coney Island in Brooklyn, N.Y. Today, Nathan's continues to operate restaurants and sell its iconic beef hot dog product through the foodservice industry and in supermarkets.

Nathan's reported $71.5 million in revenue in 2013, up form $66.2 million in 2012. Net income per share was $1.70 in 2013, up from $1.26 in 2012.